2018-05-11T10:40:20-05:00 2017-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2016-07-01 060662150 MITCHELL COLLEGE MITC 8607015166 437 PEQUOT AVENUE NEW LONDON CT 06320 DYANN j BAKER SR VP Finance & Administration 8607015166 2018-05-10 1 JOHN TOSCANO P00358542 9592007000 2018-05-08 2016 2022-09-23 18:48:47Z janet l steinmayer 437 PEQUOT AVENUE NEW LONDON CT 06320 28288888 0 X WWW.MITCHELL.EDU X 1938 CT MITCHELL COLLEGE IS A SMALL, PRIVATE LIBERAL ARTS COLLEGE LOCATED ALONG THE THAMES RIVER IN HISTORIC NEW LONDON, CT. BASED ON ITS HISTORY OF EDUCATING A DIVERSE GROUP OF THINKERS AND LEARNERS, MITCHELL COLLEGE PROVIDES A STRENGTH-BASED, HOLISTIC EDUCATION THAT GIVES ITS STUDENTS THE ADAPTABILITY THEY NEED TO LEAD FULL PROFESSIONAL AND PERSONAL LIVES. OUR NON-TRADITIONAL EDUCATIONAL FOCUS IS DESIGNED TO DEVELOP THE STRENGTHS OF EACH OF OUR STUDENTS AND FIND WAYS TO HIGHLIGHT THESE STRENGTH AREAS. ADDITIONALLY, THE FOCUS OF OUR EDUCATION IS BASED ON THE PREMISE THAT EACH STUDENT FINDS IDENTITY, MEANING, AND PURPOSE THROUGH THE DEVELOPMENT OF THEIR EMOTIONAL, SOCIAL, AND CREATIVE POTENTIALS, NOT LIMITED SIMPLY TO THEIR COGNITIVE DEVELOPMENT. 14 13 401 5 190228 0 1238225 1348205 26057759 25808739 441971 450685 514245 262901 28252200 27870530 8221901 7666511 0 0 10628098 11383336 0 0 236473 9229159 8658590 28079158 27708437 173042 162093 31320436 31758766 15925725 15361925 15394711 16396841 Mitchell College educates a diverse student population, bringing forward the potential of each student with a highly individualized educational approach that reveals student strengths and instills an appreciation and empathy toward others. 0 0 21386598 7666511 25857691 Mitchell College is a four-year coeducational, residential liberal arts college that serves approximately 700 students, granting bachelor and associates degrees in arts and science and professional certificates. The academic program is enhanced by a skills-based teaching and assessment program, Ability Based Education, and Integrative Career Development that teaches career readiness skills and provides strong professional experiences guided by faculty and staff. The college offers academic support, college transition programs, four-year advising and professional tutoring to promote student success. A Division III Athletics program emphasizes scholarship with athletics, engaging one-third of students in varsity teams. 21386598 1 1 0 1 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 936 0 1 401 1 1 1 0 0 0 0 1 1 0 0 0 0 X 14 13 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DYANN J BAKER 8607015166 437 PEQUOT AVENUE NEW LONDON CT 06320 BRIGET BAIRD SECREtary 1.00 X X 0 0 0 mark Burke Trustee 1.00 X 0 0 0 richard Carlson Trustee 1.00 X 0 0 0 PATRICK CAULFIELD TRUSTee 1.00 X 0 0 0 NANCY DOLAN TRUSTee 1.00 X 0 0 0 scott Gibson treasurer 1.00 X X 0 0 0 kevin Hennessy CHAIR 1.00 X X 0 0 0 Lucy Leske Trustee 1.00 X 0 0 0 robert musil trustee 1.00 X 0 0 0 Charles Pratt Trustee 1.00 X 0 0 0 Barbara Pratt Trustee 1.00 X 0 0 0 david Sandberg Co-Chair 1.00 X X 0 0 0 john Tymitz Trustee 1.00 X 0 0 0 janet steinmayer President 60.00 X X 264295 0 31039 Dyann Baker SR. VP Finance & Administr 60.00 X 119378 0 11440 catherine wright vp academic affairs 50.00 X 134409 0 23520 Joseph Pardee Director Facilities 50.00 X 114352 0 29487 Timothy Grills Director Food Services 50.00 X 100907 0 310 Paul Brindamour Assistant Professor 50.00 X 100552 0 31199 Mary Ellen Jukoski Former President 0.00 X 130000 0 0 963893 0 126995 7 1 1 0 Chartwell's Dining Services PO Box 417632 BOSTON MA 02241 FOOD SERVICE 1406997 Ellucian Company 62590 Collections Center Drive CHICAGO IL 60693 IT CONSULTING 747012 Yankee Remodeler of New London 95 Truman Street NEW LONDON CT 06320 CONSTRUCTION SERVICES 516830 Integration Partners Inc 12 Hartwell Avenue LEXINGTON MA 02421 IT SERVICES/SUPPLY 332514 Malek Landscaping LLC 286 Pendleton Hill Road VOLUNTOWN CT 06384 LANDSCAPING SERVICES 214600 6 73102 174686 1100417 129307 1348205 tuition and fees 611310 17680713 17680713 room and board 611310 4261003 4261003 auxiliary enterprises 611310 3867023 3867023 25808739 159257 365 158892 20284 60330 -40046 -40046 -40046 610809 500 319881 0 290928 500 291428 291428 16200 73102 35710 -19510 -19510 24430 2437 21993 21993 independent operations 531120 189863 189863 Other Income 900099 110601 48952 61649 300464 27870530 25857691 190228 474406 7666511 7666511 443961 382126 61835 8294779 5454422 2718592 121765 458048 309205 141204 7639 1564797 741842 804378 18577 621751 427761 184565 9425 161375 161375 83700 83700 30604 30604 835398 662552 172835 11 3452 2275 1177 535368 239203 280698 15467 752020 558252 193768 953061 911506 41555 60182 45816 14366 18534 17519 1015 488103 460867 27236 1624774 1534112 90662 569490 255853 313156 481 food services 1268040 1228295 39271 474 student programs and se 558699 558699 recruiting 246451 60987 185464 dues and subscriptions 167003 122801 44077 125 302336 128120 173542 674 27708437 21386598 6085366 236473 3586005 4081645 147148 112167 6920 127602 758498 605649 516674 497737 419089 350971 44253212 26661498 18060802 17591714 7686566 8284016 295949 254008 -157215 -146743 31320436 31758766 869485 897875 1328793 1271149 12484300 12166573 150000 1093147 1026328 15925725 15361925 X 12301312 12535160 1824329 2563674 1269070 1298007 15394711 16396841 31320436 31758766 X 162093 646102 193935 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27708437 27708437 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 X 1 26.27 1 0 0.00 0 1 X 0 7165440 29577 961202 29852 539621 7586746 7883356 10500 -118566 18250 591600 7165440 7569270 466146 211645 33608 330097 7883356 6261812 250617 1110558 53717 7569270 5880324 89100 558674 266286 6261812 0.73300 0.16500 0.10200 0 0 282631 282631 33560923 17342381 16218542 10022021 9319117 702904 387637 387637 17591714 obligation on swap agreement 46271 advances from federal government for student loans 632838 asset retirement obligations 42315 OTHER LIABILITIES 304904 1026328 X 21119429 646102 7500 -7472576 -6818974 27938403 30604 -98477 -67873 27870530 20117299 7500 98477 105977 20011322 30604 7666511 7697115 27708437 Part II, Line 9: THE COLLEGE ACQUIRED MITCHELL WOODS DURING THE FISCAL YEAR ENDING JUNE 30, 1984. IN ACCORDANCE WITH THE AGREEMENT UNDER WHICH THE COLLEGE ACQUIRED THE MITCHELL WOODS PROPERTY, THE PROCEEDS OF THE INVESTED FUNDS ARE USED TO MAINTAIN THE FACILITY. THE PRINCIPAL CASH RECEIVED AT ACQUISITION IN THE AMOUNT OF $138,510 REMAINS IN PERMANENTLY RESTRICTED FUNDS. THE LAND IS VALUED AT $50,000. THE COLLEGE MAINTAINS THE PROPERTY EACH YEAR. Part III, Line 1a: CONTRIBUTED ART COLLECTIONS ARE NOT INCLUDED IN ASSETS SINCE IT IS NOT FEASIBLE TO ESTABLISH THEIR APPROPRIATE CARRYING VALUE. PURCHASES OF ART COLLECTIONS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE PERIOD IN WHICH THE ITEMS ARE ACQUIRED. PROCEEDS FROM THE SALE OF COLLECTION ITEMS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASS. Part III, Line 4: THE ART COLLECTION FOR MITCHELL COLLEGE IS FOR EXHIBITION PURPOSES. ALTHOUGH THE COLLEGE DOES NOT REFLECT THE VALUE OF THE COLLECTION ON THE BALANCE SHEET, INSURANCE COVERAGE IS MAINTAINED ON THE COLLECTION. Part V, Line 4: ENDOWMENT FUNDS ARE INTENDED FOR INSTRUCTIONAL PROGRAMS, SCHOLARSHIPS AND MITCHELL WOODS. Part X, Line 2: The College has no unrecognized tax benefits at June 30, 2017 and 2016. The College's Federal and state tax filings prior to fiscal year 2014 are closed and management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. If the College had unrelated business income taxes, it would recognize interest and penalties associated with any tax matters as part of the income tax provision and include accrued interest and penalties with the related tax liability in the consolidated statements of financial position. Part XI, Line 2d - Other Adjustments: financial aid and awards -7,666,511. change in value of swap obligation 183,463. goodwill impairment -829. deficit in earings of subsidiary 11,301. Part XI, Line 4b - Other Adjustments: rental expenses -60,330. FUNDRAISING EXPENSES -38,147. Part XII, Line 2d - Other Adjustments: rental expenses 60,330. FUNDRAISING EXPENSES 38,147. Part XII, Line 4b - Other Adjustments: financial aid and awards 7,666,511. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 MITCHELL COLLEGE STATES ITS NONDISCRIMINATORY POLICY ON ITS APPLICATION FOR ADMISSION TO THE COLLEGE, AS WELL AS IN ITS "BULLETIN OF MITCHELL COLLEGE", THE CATALOG. MITCHELL COLLEGE ALSO ADVERTISES ITS NONDISCRIMINATORY POLICY ON THE RADIO AND TELEVISION. Schedule E, Part I, Line 6 MITCHELL COLLEGE IS AN INSTITUTION OF HIGHER EDUCATION AND WAS APPROVED IN 1958 BY THE U.S. DEPARTMENT OF EDUCATION FOR THE PARTICIPATION IN THE FINANCIAL AID PROGRAM. AS A RESULT, THE GOVERNMENT PROGRAMS THAT MITCHELL COLLEGE PARTICIPATES IN INCLUDE THE FOLLOWING: 1. THE PERKINS LOAN PROGRAM 2. THE FEDERAL WORK-STUDY PROGRAM 3. THE SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS PROGRAM 4. THE PELL GRANT PROGRAM 5. ROBERTA WILSON SCHOLARSHIP (STATE OF CONNECTICUT AID TO INDEPENDENT COLLEGES PROGRAM) Red Barn 89302 73102 16200 11979 13364 1348 9019 89302 73102 16200 11979 13364 1348 9019 35710 -19510 24430 2012 425 0 24430 2012 425 2437 21993 CT 1 0 0 0 1.00000 Dyann J Baker 437 pequot avenue new london CT 06320 0 DYANN J BAKER X 0 1 financial aid, scholarships and grants 600 7666511 fair value FINANCIAL AID, SCHOLARSHIPS AND GRANTS AWARDED ARE APPLIED TO STudent accounts through a reduction in tuition charges. Part I, Line 2: ALL FIRST-TIME STUDENTS TO MITCHELL COLLEGE ARE REVIEWED FOR MERIT AID. THERE IS NO SEPARATE APPLICATION PROCESS. IF STUDENTS ARE AWARDED MERIT AID, THE NOTIFICATION LETTER WILL BE SENT ABOUT TWO WEEKS AFTER THEIR ACCEPTANCE LETTER ARRIVES. MERIT AID IS BASED ON ACADEMIC PERFORMANCE AND/OR COMMUNITY SERVICE INVOLVEMENT. STUDENTS WHO ARE INTERESTED IN OBTAINING NEED BASED AID, EITHER FROM FEDERAL AND STATE RESOURCES OR MITCHELL COLLEGE'S OWN FUNDS MUST COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) AT WWW.FAFSA.ED.GOV. FINANCIAL AID, scholarships and grants AWARDED IS APPLIED TO STUDENT ACCOUNTS THROUGH A REDUCTION IN TUITION CHARGES. X 1 1 X X X X X 0 0 0 0 0 0 0 0 1 1 janet steinmayer President 263899 0 0 0 396 0 21201 0 9838 0 295334 0 0 0 catherine wright vp academic affairs 134013 0 0 0 396 0 11016 0 12504 0 157929 0 0 0 Mary Ellen Jukoski Former President 0 0 0 0 130000 0 0 0 0 0 130000 0 130000 0 Part I, Line 1a PERSONAL CAR EXPENSES paid per THE former PRESIDENT'S WRITTEN EMPLOYMENT AGREEMENT ARE INCLUDED AS TAXABLE INCOME ON THE PRESIDENT'S W-2. A connecticut health and educational facilities authority 060806186 2010-11-02 14300000 refinance debt, construction of building and renovations 0 0 0 A 1941393 14300000 219426 152498 13928076 2011 0 0 1 1 A 0 0 0 0 0.00400 0.00400 0 0 1 A 0 0 0 0 1 1 td bank 7.000000000000 0 0 0 0 1 A 1 X 4 122024 FAIR VALUE X door & window 1 7283 0 0 0 Part I, Column (b): THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. Form 990, Part VI, Section A, line 2 BOARD MEMBERS CHARLES & BARBARA PRATT ARE MARRIED. Form 990, Part VI, Section B, line 11b the college's form 990 is prepared by its independent accounting firm and provided to management for review. subsequent to management's review, the form is provided to the audit committee of the board of trustees. upon approval by the audit committee, the form 990 is provided to the board, in its entirety, for final review and approval. Form 990, Part VI, Section B, line 12c BOARD MEMBERS COMPLETE A QUESTIONNAIRE ANNUALLY, WHICH IS RETURNED TO AND MAINTAINED IN THE HUMAN RESOURCES OFFICE AS A PERMANENT RECORD. HUMAN RESOURCES FOLLOWS UP WITH ANY BOARD MEMBER WHO HAS NOT RETURNED A COMPLETED QUESTIONNAIRE. ALL QUESTIONNAIRES ARE REVIEWED FOR POTENTIAL CONFLICTS OF INTEREST. Form 990, Part VI, Section B, line 15 IN ACCORDANCE WITH THE BOARD APPROVED EXECUTIVE COMPENSATION POLICY, THE BOARD SHALL REVIEW AND APPROVE THE COMPENSATION OF THE PRESIDENT. SUCH REVIEW AND APPROVAL SHALL BE CONDUCTED IN ACCORDANCE WITH THIS POLICY, SOLELY BY THOSE TRUSTEES WHO QUALIFY AS "DISINTERESTED" TRUSTEES, AS DEFINED WITHIN THE POLICY. THE PRESIDENT SHALL HIRE, EMPLOY AND DETERMINE COMPENSATION FOR SUCH OTHER PERSONNEL, INCLUDING OTHER KEY EXECUTIVES (AS DEFINED WITHIN THE POLICY), AS ARE NEEDED TO ENSURE THE OPERATION OF THE COLLEGE AND ACCOMPLISH ITS EDUCATIONAL MISSION. SUCH ACTIONS ARE TO BE CONSISTENT WITH THE POLICIES AND BUDGETS SET BY THE BOARD AND WITH THIS COMPENSATION POLICY. IN SUCH PROCESS, THE PRESIDENT SHALL CONSULT WITH THE COLLEGE'S HR DIRECTOR, AS NECESSARY. IN THE EVENT THAT THE PRESIDENT IS NOT A DISINTERESTED PARTY WITH RESPECT TO ANY SUCH EMPLOYMENT DECISION, THE DISINTERESTED MEMBERS OF THE BOARD SHALL REVIEW AND APPROVE SUCH DECISION. THE BOARD, WITH RESPECT TO SETTING THE COMPENSATION FOR THE PRESIDENT, AND THE PRESIDENT WITH RESPECT TO SETTING THE COMPENSATION FOR ALL OTHER KEY EMPLOYEES, WILL ENSURE THAT "REASONABLE COMPENSATION" IS SET THROUGH THE FOLLOWING PROCEDURE: 1) ASSESS THE NATURE AND SCOPE OF EACH KEY EXECUTIVE POSITION. 2) DETERMINE THE RELEVANT MARKET DATA FOR THE KEY EXECUTIVE POSITION. THIS MAY BE ACCOMPLISHED BY OBTAINING RELIABLE AND COMPARABLE DATA FROM (I) FORM 990S, (II) PUBLISHED SURVEYS OF TAX-EXEMPT AND FOR FOR-PROFIT ORGANIZATIONS, (III) ACTUAL WRITTEN COMPETING OFFERS FOR THE EXECUTIVE'S SERVICES, OR (IV) INDEPENDENT COMPENSATION SURVEYS BY NATIONALLY-RECOGNIZED INDEPENDENT FIRMS. IN EACH CASE, DATA SHOULD BE BASED ON SIMILAR INSTITUTIONS WITH SIMILARLY-SIZED BUDGETS. 3) DEVELOP A TARGET BASE PAY RANGE BASED ON THE MARKET DATA ABOVE. 4) SET COMPENSATION BY CONSIDERING BOTH MARKET DATA AND EACH INDIVIDUAL'S BACKGROUND, EXPERIENCE AND SKILLS. 5) MAKE ANY FUTURE ADJUSTMENTS IN COMPENSATION BASED ON MERIT, PERFORMANCE EVALUATION RESULTS, INSTITUTIONAL RESOURCES, AND ANY CHANGES IN THE MARKET. THE BOARD OR THE PRESIDENT, AS APPLICABLE, SHALL DOCUMENT THE BASIS FOR THE DETERMINATION OF REASONABLE COMPENSATION, INCLUDING PERFORMANCE EVALUATIONS AND MARKET DATA, CONCURRENTLY WITH MAKING THAT DETERMINATION. Form 990, Part VI, Section C, line 19 the college makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Form 990, Part XI, line 9: change in value of swap obligation 183,463. goodwill impairment -829. deficit in earnings of subsidiary 11,301. form 990, part XII, line 2c: there were no changes to the School's oversight or selection processes during the tax year. MICHAEL'S DAIRY INC 629 montauk avenue new london CT 06320 060724782 retail and educational facility CT MITCHELL COLLEGE C 11301 260970 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 michael's dairy inc L 6101 FEES FOR SERVICES michael's dairy inc D 33861 FMV